Upland, a revolutionary platform built on blockchain technology, has successfully amassed an extra $7 million during a focused Series A funding effort. to further expand its virtual world.
This fresh infusion of capital means Upland’s total funding bag swells to $25 million, following an earlier round which pulled in $18 million the previous year. Leading the charge on this investment front is EOS Network Ventures, marking its premier foray into the realm of cryptocurrency gaming endeavors.
Keypoints
- Upland, a metaverse app which harnesses the potential of EOS blockchain, has managed to gather $7 million in its Series A funding saga.
- Spearheading this financial boost is EOS Network Ventures, venturing into its maiden investment within the crypto gaming sphere.
- Aggregated funds for Upland have now reached a solid $25 million post last year’s impressive $18 million acquisition.
- The monetary backing aims to advance Upland’s virtual universe by bringing in fresh features and leveraging AI tools while amplifying their promotional strategies.
- A significant objective is to usher Upland’s proprietary currency, Spark, onto external digital currency platforms, initiating its debut as Sparklet on Ethereum, backed by a community decision.
- Upland boasts a thriving community, with over 3 million active memberships and 300,000 virtual landholders. It provides engaging options such as trading properties, participating in adrenaline-fueled races, and exploring virtual commerce.
Since bursting onto the scene in 2018, Upland has captured the imagination of users as a beloved platform within the digital universe, accumulating over 3 million accounts. Based on EOS technology, it allows enthusiasts to acquire, exchange, and trade digital assets represented by actual geographic locations.
Beyond dealing in digital properties, Upland has enriched its ecosystem with diverse features and engrossing activities to boost user involvement. From launching virtual storefronts to embarking on treasure quests, car competitions, and even fashion-themed events, the platform is bustling with possibilities.
Dirk Lueth, the mind behind and driving force of Upland, shared that the fresh funds would accelerate the infusion of cutting-edge features and AI-powered components into the platform.
Moreover, placing Spark, Upland’s utility currency, onto public crypto trading platforms is prioritized, beginning with an Ethereum integration. Following a collective vote, Spark will transform into Sparklet upon navigating the Ethereum waters.
This strategic external inclusion aims to expand awareness and increase the fluidity of Spark, a token presently confined within Upland’s ecosystem. This move, in part inspired by Ripple’s legal success, fortifies the stance that not all crypto tokens serve as securities.
Upland prides itself on maintaining transparency, ensuring that Spark tokens have never been transacted directly to investors, steering clear of the tight regulatory attention seen across numerous crypto initiatives.
Although the buzz surrounding metaverses has lessened recently, Upland remains assured that interest in engaging digital realms is unwavering. With high-profile collaborations with giants like FIFA and NFLPA, Upland is ambitiously pursuing the creation of an expansive digital ecosystem driven by genuine ownership.
Energized by new capital and a loyal user base, Upland is poised to forge ahead in championing widespread acceptance of blockchain technology. As both an innovative platform and a thriving enterprise, it envisions a future rich with utility and user-focused value creation.
